Kotak International, the global arm of Kotak Mahindra Bank, has secured a licence from the United Arab Emirates’ Securities & Commodities Authority to sell investment funds and portfolios directly to onshore retail investors. This makes Kotak the first Indian financial institution to receive such an approval in the UAE, reflecting the growing interest of Gulf investors in Indian markets.
The firm plans to roll out its first India-focused retail funds in the UAE by the last quarter of 2025. With this licence, Kotak will be able to reach beyond high-net-worth individuals and insurance platforms, giving retail investors access to its funds with a minimum investment of just $500.
Shyam Kumar, Kotak International President said India’s young and vibrant workforce along with its diversified economy makes it a great story for foreign investors. The UAE with zero tax on personal income and capital gains from fund returns is a very attractive base for expansion.
Indian nationals make up about 35% of the UAE’s population and are the largest foreign investors in Dubai real estate with property purchases worth over 35 billion dirhams in 2023. While the Indian diaspora is at the heart of Kotak’s growth strategy in the Gulf, the firm also wants to bring in more local and global investors.
This comes at a time of increasing financial and trade ties between India and the UAE. In July, PM Modi visited the UAE for the 7th time and signed agreements to connect India’s digital payment system with the Gulf nation and boost bilateral trade.
Do you have a news tip for Lakshmishree reporters? Please email us at media@lakshmishree.com
Source: Moneycontrol
News Desk
